New UK platform connects businesses to local funding
A new digital platform is helping UK businesses access funding and boost their online presence. Poundswise.com, developed by Sunderland entrepreneur Michael Okare Shaba, connects companies with local grants, loans, and support schemes based on their postcode.
The platform also allows businesses to purchase digital spaces on an interactive UK map, displaying their logos and linking customers directly to their websites. They can expand their presence by purchasing neighboring spaces, while a 3D virtual tour feature enables potential customers to explore business premises remotely.
Addressing the funding awareness gap
Shaba, a University of Sunderland graduate, developed the idea after struggling to secure financial support for an earlier healthcare technology venture. Despite receiving recognition from Tech Nation as an Exceptional Global Talent, he faced challenges accessing funding due to his company’s location.
An unsuccessful application for a £35,000 grant highlighted the importance of location when accessing business support. He realized that many businesses were unaware of available funding opportunities, stating, “The real gap isn’t funding – it’s awareness.”
This experience inspired him to create Poundswise, bringing funding information and business promotion together in one online platform. Through its postcode-based search functionality, companies can identify local authority initiatives, financial assistance, and other support programs relevant to their location.
Helping businesses unlock opportunities
Poundswise has already helped businesses identify opportunities they might otherwise have missed. Holding Hands North East CIC, for example, secured funding after discovering a grant through the service. Jennifer Orji from the organization said, “Poundswise surfaced a local grant… that we had never heard of. We received the funding and it was a significant boost.”
The platform’s impact extends beyond funding, with early users connecting with business support programs and identifying opportunities for media coverage. Shaba estimates that Poundswise could help address £24 billion in unclaimed business support across the UK each year.
With Poundswise now live, Shaba aims to make funding opportunities more accessible to entrepreneurs, regardless of their location. As he puts it, “Our mission is simple… No founder should have to close a business simply because they didn’t know help was available.”
In a business funding environment often criticized for complexity and inaccessibility, Poundswise provides a simplified solution.
Founder’s Personal Journey Shaped Platform’s Creation
Michael Okare Shaba’s experience as an international student in the UK influenced Poundswise’s development. He worked in care homes and factories to fund his studies, later facing funding challenges for his healthcare tech venture.
This struggle inspired him to create a platform addressing funding awareness gaps, ensuring entrepreneurs can access support regardless of location.
